Gas to average below $2 in 2016, $2.21 in 2017

Gas to average below $2 in 2016, $2.21 in 2017

The U.S. Department of Energy forecasts that the price of gas will average $1.98/gallon in 2016 and $2.21 in 2017, down substantially from $2.43 in 2015.

In January, the average retail regular gasoline price was $1.95/gallon, the first time monthly gas prices were below $2/gallon since March 2009. The Energy Department expects the monthly average retail price of regular gas to reach a seven-year low of $1.82/gallon in February before rising this spring.